Israeli Police have managed to shutdown online gambling site betbet.us. It had previously operated as bet555.net, and is estimated to have generated a revenue of NIS 340 million since its operation of May 2007. Police officers were assigned to raid the offices of 36 nationwide suspects and have seized property that has been related to operating the online gambling website. The suspects, which include many internet gamblers, will have to stand trial at Tel Aviv Magistrates Court.

The chief suspect in all of the scheme was Or Yehuda, the founder of the online gambling site. 70 million transactions were made on the website between April 2007 and June 2009. Online gambling is viewed as one of the main income streams of organised crime in Israel. It is often then connected to other crimes of extortion, violence, money laundering and tax evasion.

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